POLITICS & POLICY

Opposition leader Tony Abbott reiterated his commitment to economic reforms as he clarified that such measures must be based on more affordable tax and would generate more jobs and provide the government with more cash to fund disability payments.

Australia's carers have been formally recognised for their contribution to society with the passing of the Carer Recognition Bill 2010 through the Federal Parliament.

The country’s major banks are poised to face a Senate inquiry as the Coalition backed an initiative made by an independent senator calling for an investigation on whether the Australian banking sector is marred by unfair practices being observed by industry players.

Opposition treasury spokesman Joe Hockey is merely adhering on rhetorical populism when called on the federal government to play an active intervention in compelling Australian banks to toe the line on Reserve Bank of Australia’s policy rates.

Three lawmakers joined the snowballing opposition on the controversial $8.4 billion buyout proposal of the Australian Securities Exchange (ASX) by the Singapore Exchange, further establishing hurdles that need to be dealt with by the stock exchange merger.

Peak industry bodies are disappointed with the NSW Government for its changes in the Solar Bonus Scheme.

Australian Prime Minister Julia Gillard met with BHP chief executive Mr. Marius Kloppers on Wednesday in an effort to save the agreement signed with the mining industry now on the brink of collapse.

The Australian banking industry is again facing tough calls from policy-maker led by opposition's Mr. Joe Hockey.

A sluggish day for the Aussie dollar and commodities is seen as the US dollar appreciated with the better-than-expected results of consumer confidence survey and home sales picking up at this time in the United States.

Federal Treasurer Wayne Swan is upbeat that economic indicators were pointing to encouraging developments as he expressed joy that inflation figures were moderating while dynamics in the shares market remain exciting, with the prospect of a likely merger between the Australian Securities Exchange and the Singapore Exchange almost a creeping reality.

Opposition leader Tony Abbot finally voiced out his support on the nine-point plan laid out by his treasury spokesman Joe Hockey that seeks to restore and strengthen competition in the country’s banking sector.

Australia is likely to raise its economic growth targets on the back of higher employment numbers during its mid-year budget assessment in December.

The New South Wales state government said on Wednesday that a moratorium on new mining and coal seam gas projects in the region is out of the question, stressing that the move would cost too much on job prospects for NSW residents.

A mixed performance of global stocks is seen to create a bearish mood in the Australian stock markets today.

A new survey released by the National Australia Bank (NAB) revealed that business confidence had returned to pre- global financial crisis levels.

The New South Wales Farmers’ Association wants the state authorities to implement moratorium on the coal seam gas industry across the region in light of the environmental risks pose by such activities.

M2 motorway widening in Sydney's north-west is set to begin this year with the cost shouldered by the motorway's toll.

New buyout fund-raising has stalled at 2009 levels as anxiety over the country's tax regime keep investors at bay, according to data released by the Australian Private Equity & Venture Capital Association (AVCAL) on Tuesday.

Economic reform is the key for Australia’s long term prosperity and according to Prime Minister Julia Gillard, this agenda should be the driving force of any government leading the country.

The Australian Bankers' Association (ABA) remains concerned with the direction of the Coalition's proposals on bank regulation, although it said the industry welcomes clarification of the Shadow Treasurer's comments.

Rio Tinto Ltd's (ASX:RIO) would still pursue its planned Oyu Tolgoi copper and gold project in Mongolia despite some strain with Canadian partner Ivanhoe Mines.

Chi-X Global Inc. is still set to work towards launching in March 2011, in spite the growing threat of a tougher competitive environment with the bid takeover of the Singaporean bourse of rival ASX Ltd.

Support for the Australian Labour Party has declined in the latest opinion polls survey released by the Nielsen Group.

Queensland government’s intense campaign for obtaining approval on two huge coal seam gas investments on the central part of the state paid off as the federal government gave its go signal on the projects but with substantial conditions.

The Australian bond market stands to benefit from the so-called quantitative easing imposed by the US government to prop up the US dollar.

Farmer-Shareholders of food producer SunRice are seriously considering the $600-million offer of Spanish firm Ebro Foods.

Banks on Friday defended their recent practice of hinting rate hikes in response to the competition watchdog's comments that announcing intentions about interest rate movements could almost be anticompetitive behaviour and the subject of possible action.

The competition watchdog today joined the campaign for closer regulation of Australian banks.

Queensland state authorities called on Federal Environment Minister Tony Burke to approve two new gas projects that they said would deliver up to $30 billion worth of fresh investments and bolster the Australian economy.